مطالعه‌اي بر مدل‌هاي تنزيل

In this thesis, we review interest rate models an‎d examine classical models including Vasicek, Hull-White, Cox-Ingersoll-Ross, an‎d other prominent models. Then, we introduce the Heath-Jarrow-Morton framework an‎d subsequently present the arbitrage-free dynamic framework based on the “discount derivative,” which is proposed as an alternative approach for modeling forward rates. The main objective of this research is to study an‎d compare different frameworks for modeling the term structure of interest rates an‎d to analyze the advantages an‎d limitations of the discount derivative-based approach in pricing an‎d hedging financial instruments.

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